Stock Market On Wednesday: Mixed Opening To The Week, Volatile Day Predicted
The week opened to a mixed bag. So what does mid week trading hold in store for the investors? Read it here
The stock market opened on a mixed note on Tuesday, with Nifty showing gains and Sensex closing in red. The NSE Nifty was up 27.05 points and closed at 22,529.05, while the BSE Sensex was down 52.63 points and closed at 73,953.31. As per experts and analysts, a volatile day is expected on Wednesday.
Bullish Momentum In These Stocks
The momentum indicator MACD has been hinting bullish movement in some stocks. These include Indian Railway Finance Corp, Rail Vikas Nigam, Steel Authority of India and Indian Energy Exchange.
Indian Railway Finance Corp is trading at Rs 178.75, following a jump of 3.17 per cent. Rail Vikas Nigam saw a gain of 13.28 per cent, trading at Rs 339.50.
Steel Authority of India has been showing a bullish momentum and gained 2.57 per cent, currently available at Rs 173.50. In the last one year, it has given 111.46 per cent returns.
Indian Energy Exchange is up by 1.23 per cent and is trading at Rs 160.30.
Top Gainers That Closed On A High Note
Here are some of the top gainers of the last trading session that closed on a high note. These included Cheviot Company, Cochin Shipyard, Adani Power and Excel Industries.
Cheviot Company saw a gain of 11.93 per cent and is trading at Rs 1,480. In the last five days, it has given 17.55 per cent returns. Cochin Shipyard was up by 9.62 per cent, available at Rs 1,626.90. In the last five days, it has gained 29.19 per cent.
Adani Power gained 7.61 per cent, trading at Rs 683. In the last one month, it has jumped 14.42 per cent. Excel Industries jumped 0.23 per cent and is trading at Rs 1,104. The 52-week high for this stock is Rs 1,134.60.
Gold And Silver Prices For The Day
22k gold is priced at Rs 68,290 per 10 grams
24k gold is priced at Rs 74,500 per 10 grams
Silver is priced at Rs 94,500 per kilogram.
Market Experts' Insights
Prashanth Tapse, Senior VP (Research), Mehta Equities
Early action at GIFT Nifty suggests a volatile day as sentiment wavers after Federal Reserve officials, including Governor Christopher Waller, reiterated the need for sustained inflation decline before considering rate cuts. Anxiety prevails ahead of the FOMC minutes release. Despite record FPI outflows and rising India VIX above 21, Nifty’s outlook remains optimistic. Metal stocks, buoyed by rising copper prices due to Chinese housing market interventions, are in focus. The falling WTI crude prices at $78 per barrel add a positive note. Technically, Nifty remains bullish, aiming for all-time highs of 22,795 and beyond. Recommended trades include Nifty targets at 22,600/22,795 and Bank Nifty at 48,551/48,901. Notable stock pick: ADANI PORTS with targets at 1,401/1,425.
(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)
